I agree that "fluid" is a more technical term, but they mean the same as nouns. I would use "liquid" as an adjective for a substance - for example, when you get medicine for your children, you can request it in either solid form or liquid form, not fluid form. But if you describe how someone moves, and her she moves very smoothly, you would said she moved fluidly, only liquidly.
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Then I realize, the term "coal liquification" was only an analogy, meaning 'coal fluidification'.